U.S. Bank Altitude Reserve Shutdown Letter
Last week I covered the news that U.S. Bank has been shutting down new Altitude Reserve accounts for gift card purchases. One of our readers shared their story about getting shutdown for purchasing gift cards at a Simon Mall. When that reader was talking to the U.S. Bank Investigator they weren’t given much information either.
Well, now we know a bit more. The reader followed up with me and shared the letter they received in the mail. The reason for the shutdown? “We have reason to believe that the account is in danger of, or is being used for improper purposes.” Of course the bank is probably protected by the terms in their cardmember agreement which most likely explains the use of this language.
This reader also noticed that their statement printed and despite it saying that the reader earned points for their purchases, none were awarded. Not surprising of course.
So U.S. Bank is shutting down accounts for purchasing gift cards and is calling that an improper use. As I suspected they seem to be looking to catch this behavior quickly and thus are targeting accounts that are “in danger of” being bad for them. What do you think?